Home Loans for Self-Employed
Non-QM loans offer alternative mortgage solutions – no tax returns required – making them perfect for self-employed borrowers and others with unique income situations.
Home Loans for Self-Employed Borrowers | Flexible Non-QM Mortgage Options
Getting a mortgage when you’re self-employed doesn’t have to be difficult. At FNBA, we make home financing accessible with flexible Non-QM loan options designed specifically for self-employed borrowers. Instead of requiring traditional income documents like W-2s or tax returns, we offer solutions that use alternative documentation – such as bank statements or 1099s – to help you qualify. Whether you’re a small business owner, contractor, gig worker or freelancer, our self-employed mortgage program is built to meet the unique way you earn income.
Bank Statements
These documents may also be utilized to verify your income as they offer a comprehensive overview of your financial activity and can provide us with insights into your earning capacity.
1040's/1099
As an independent contractor, it’s likely that you receive 1099 forms for the work that you perform throughout the year. These documents can serve as proof of your income.
Profit & Loss Statements
As a business owner, your profit and loss statements are valuable tools for demonstrating your income over a period of time. We accept these statements as valid documentation of your financial stability.
Take the next step toward home financing – Apply today
How to Qualify for a Mortgage When You’re Self-Employed
Qualifying for a mortgage when you’re self-employed can be easier than you think – especially with a Non-QM loan. Unlike traditional mortgage programs, which often require two years of tax returns and W-2s, Non-QM loans allow borrowers to use alternative income documentation like bank statements, profit and loss statements or 1099s to verify income. This makes them a smart choice for entrepreneurs, freelancers, contractors and business owners whose income doesn’t fit the standard mold.
At First National Bank of America, we specialize in helping self-employed borrowers access alternative home financing. Whether you’re purchasing a new home or looking to refinance, our Non-QM mortgage solutions are designed to work with your income structure – not against it.
Gather Essential Documents and Apply with Ease
No tax returns needed: Gather alternative income proof. Be prepared to show consistent income through bank statements, profit & loss statements, 1099’s or a combination of income documentation to support your financial picture.
Understand Debt-to-Income: Unlike traditional mortgages, FNBA’s Non-QM loans accept DTI ratios up to 55%, making them suitable when you have irregular income or existing debt.
Prepare for the down payment: Non-QM loans require higher down payments than traditional financing. You can expect to need a minimum of 15% of the loan amount for the down payment.
Take the next step with confidence. Knowing what to expect, your Non-QM loan process can be simple, stress free and tailored to fit your unique financial profile. We’ve been helping people finance their homes since 1955 and our experienced team is committed to helping you achieve your home financing goals. Start your home financing journey today!
Non-QM Loan Program Highlights
12 Months of Income History
No Prepayment Penalties
Financing for Single Family Homes, 2nd Homes, Multi-Family, Vacant Land, Non-Warrantable Condos, Barndominiums, Mobile Homes and more
Minimum Down Payment of 15% Required
Debt-to-Income (DTI) of up to 55%
Flexible Income Documentation Options
Use Gift Funds to Help with Your Down Payment
Take the first step toward your next move!
Want to talk to a member of our team? 1-833-394-8404